Shares of Jet Airways witnessed a sharp decline after the Supreme Court ordered the airline to be admitted for liquidation. The court ruled that the Jalan Kalrock consortium failed to implement the agreed-upon resolution plan, leading to this drastic decision. Investors responded negatively to the news, as the liquidation process casts uncertainty over the airline’s revival prospects.
This significant setback comes after months of anticipation regarding Jet Airways’ potential return to the skies under new ownership. With the Supreme Court’s decision, it now seems unlikely that the once-prominent airline will resume operations anytime soon, marking a new chapter in its prolonged financial struggle.
As of 12:24 pm the shares were trading 1% lower at ₹35.60 on NSE
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